Yes, employers have made some important progress since pre-pandemic times, but for the majority of more than 22,000 Gen Zs and millennials heard by Deloitte across 44 countries business is still not meeting expectations.
The new survey examined these generations’ shifting relationship with work, how they continue to make lifestyle and career decisions based on their values, and underscores continuing concerns about finances, climate change, and mental health.
“Gen Zs and millennials are striving for better work/life balance. They are also values-driven, concerned about the environment, the state of the world, and the future they see developing ahead of them. They’re looking for employers who can help empower them to make a difference,” says Michele Parmelee, Deloitte Global Deputy CEO and Chief People and Purpose Officer.
Seeking greater flexibility and work/life balance
Approximately one-third of Gen Zs and millennials in full- or part-time work say they are very satisfied with their work/life balance, compared to only one in five in 2019, and satisfaction with flexibility at work, along with diversity, equity, and inclusion (DEI) efforts have also increased.
The pandemic prompted a rethinking of the role work plays in their lives. While nearly half of Gen Zs and a majority of millennials say their job is still central to their identities, they place a strong focus on work/life balance—the top trait they admire in their peers, and their top consideration when choosing an employer.
Flexibility in where and when they work
Many respondents now have hybrid or remote work models, a benefit they value deeply. Meanwhile, flexible work arrangements, which offer a range of work structures that alter when work gets done, or the number of hours worked, are a growing priority.
Gen Zs and millennials would like to see their employers offer better career advancement opportunities for part-time employees, more part-time jobs overall, and the option for more flexible hours for full-time employees (e.g., condensed four-day work weeks).
“Organizations that actively listen and help address their needs and concerns will improve business resiliency and implement actionable change in our world.”,
Source: The Deloitte Global 2023 Gen Z and Millennial Survey